Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by World Equity Group Inc.

World Equity Group Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,950 shares of the network equipment provider’s stock after selling 1,025 shares during the period. World Equity Group Inc.’s holdings in Cisco Systems were worth $796,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Asset Management One Co. Ltd. raised its holdings in shares of Cisco Systems by 4.6% in the third quarter. Asset Management One Co. Ltd. now owns 1,858,447 shares of the network equipment provider’s stock worth $98,907,000 after acquiring an additional 82,313 shares during the last quarter. National Pension Service increased its position in Cisco Systems by 13.4% during the 3rd quarter. National Pension Service now owns 8,383,820 shares of the network equipment provider’s stock worth $446,187,000 after purchasing an additional 988,390 shares in the last quarter. Cohen Capital Management Inc. raised its stake in Cisco Systems by 0.7% in the 3rd quarter. Cohen Capital Management Inc. now owns 220,577 shares of the network equipment provider’s stock valued at $11,739,000 after purchasing an additional 1,610 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in Cisco Systems by 9.8% in the 3rd quarter. Intact Investment Management Inc. now owns 325,230 shares of the network equipment provider’s stock valued at $17,309,000 after purchasing an additional 28,900 shares in the last quarter. Finally, BSW Wealth Partners boosted its stake in shares of Cisco Systems by 4.4% during the 3rd quarter. BSW Wealth Partners now owns 6,879 shares of the network equipment provider’s stock worth $366,000 after purchasing an additional 290 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Down 0.1 %

Shares of Cisco Systems stock traded down $0.03 on Monday, hitting $55.47. 1,106,961 shares of the company’s stock traded hands, compared to its average volume of 18,963,500. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $57.06. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $221.37 billion, a P/E ratio of 21.82, a PEG ratio of 4.54 and a beta of 0.83. The firm’s 50-day moving average is $52.63 and its 200 day moving average is $49.10.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.88%. Cisco Systems’s payout ratio is 62.99%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Barclays lowered their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Finally, Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.74.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.